Tag: Firm

Operation Choke Point 2.0 Is SEC’s ‘Chemotherapy’ for $14B Ponzi Problem, Crypto Banking Firm BCB’s CEO Says

“Events of the last six months have put a damper on entities wanting to bank this space [crypto],” said another panelist, Richard Booth, chief compliance officer of Fortress Trust Company. “But it’s legal business and I think that every business in this country is entitled to access to banking rails.” He added that “the regulation, I think, needs to be matured. Congress has clearly advocated what they’re supposed to be doing and the regulators are struggling to keep up.” Source

Head of South African Firm Slapped with $3.4B Fine for Bitcoin Fraud in US

The CFTC claimed that the firm had proprietary software that was expected to recognize significant trading gains for investors who contributed to the Bitcoin pool, but in reality, there was no such “bot” in use. The head of a South African firm has been slapped with a massive fine of $3.4 billion by a federal judge in Texas. The US commodities regulator claimed that this was the largest-ever fraud case revolving around Bitcoin ever to be committed by a company. The head, who goes by the name Cornelius Johannes Steynberg,…

Bitcoin prices firm, US Fed will may continue to raise interest rates

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin (BTC) prices are firm on April 27, and trading above $29,000 as the coin broke out from a recent consolidation. The BTC upswing happens less than a day after it lost $2,000 on news that bitcoin wallets linked to Mt. Gox, a defunct cryptocurrency exchange; and the United States, one of the largest bitcoin holders controlling coins confiscated from, among other illicit activities, Silk Road, had “moved” coins.  Bitcoin prices volatile At spot rates on…

Bankrupt Crypto Firm FTX Finally Agrees to Sell Its Derivatives Platform LedgerX for $50M

FTX got the nod earlier this year to sell some of its business units. The FTX exchange has now reached an agreement to sell its crypto derivatives platform LedgerX in a deal worth about $50 million. According to a Reuters report, FTX has agreed sale terms with an affiliate of Miami International Holdings Inc. However, the sale is still subject to approval from the US court overseeing FTX’s bankruptcy proceedings. To this end, a sale hearing has been slated for May 4, and hopefully, the exchange will be able to…

FinTech Firm Klarna Overhauls App with TikTok-like Discovery Feed amid AI Hype

Klarna seeks to leverage the power of AI for offering curated shopping experiences to customers while also introducing TikTok features and new tools for advertisers. The artificial intelligence (AI) revolution is taking over and has only accelerated over the past few months. As a result, companies are making quick pivots to hop on the trend and adopt the prowess of this new tech revolution. Recently, fintech firm Klarna announced a massive redesign of its app while adding an AI-powered TikTok-inspired discovery feed. Besides, it also introduces customized shops for social…